How the Rich Took Over the Economy

Comments · 4.3K

• AN

  @annabocca · 10 months ago · pinned

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• JA

  @jarlskjoldur · 9 months ago

  The three things that I severely underestimated in my life: The greed of already rich people, the corruption of politicians, and, most importantly, the stupidity of the people that keep voting for even more pain.

  1.1K

• NE

  @NewtonFinn-p5r · 9 months ago

  Born in 1948. Grew up in the 50s. Came of age in the 60s. Launched into adult life, career, family, etc. in the late 70s. Lived all of the content laid out in this excellent video. Saw a working class-friendly economy devolve piece by piece into wage-slavery. Saw the once-vibrant city I&apos;ve lived in all my life devolve from manufacturing hub to rust belt husk.Saw so many of the best of my boomer generation, who fought &quot;the system&quot; and &quot;the man&quot; when young, start making money and gradually become themselves the very things they had fought against. If I could add one thing to this video, it would be the mass sellout of my boomer generation, on whose watch this entire devolution happened.

  2.3K

• JA

  @jasonpeterson3860 · 9 months ago

  In effect, during the 70’s and 80’s CEOs became more unionized, and labor became less unionized.

  1K

• KR

  @Krueger-i3u · 7 months ago

  Between 1975 and 2023, $79 trillion has been shifted from the bottom 90% to the top 1%.

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• LM

  @LMLewis · 9 months ago (edited)

  I lived through the past 75 years of American history. I remember economic analysts warning about the sharp rise of CEO and other executive pay that began in the 70s. Since then, CEO pay has risen 1,000%. I watched companies move to China, saw private equity companies and hedge funds wreck those companies that remained. I watched taxes plummet for the wealthiest Americans while people like me, mid-level government employee, paid a higher tax rate. I witnessed the war on the American safety net. Most importantly, perhaps, I saw how wealthy individuals, corporations and news media conspired to browbeat Americans into believing that they were the problem: &nbsp;they don&apos;t work hard enough, their expectations are &nbsp;unreasonable; and some people are rich because they were better than the rest of us. We now know that many cheated their way to riches, taking an ever larger share of profits out of the paychecks of workers who generated those profits. I watched one war after another strip the government treasury and leave thousands of Americans with life-long illness and disabilities; wars that benefitted only defense industry investors and executives. I remember how Bush administration officials bet in the stock market AGAINST America just before the 2008 economic crisis. Sadly, I remember it all.

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• TO

  @tommckenna4633 · 9 months ago

  Too many people without critical thinking skills voting against their own interests believing what they are told by corrupt media and politicians

  798

• WA

  @watamatafoyu · 9 months ago

  The sad thing about our culture is that it generally won&apos;t listen to videos like this because they sound too complicated or snooty or detailed, even though it&apos;s absolutely what they need to hear.

  225

• CO

  @copleysq · 3 months ago

  The collapse of USSR produced a binge of victorious capitalism---now is the climax...like getting over a hangover.

  35

• BA

  @BarbSmithers62 · 9 months ago

  Born in 62 and lived all of this. Thank you for putting it all together for those today who don’t know how it happened.

  243

• WI

  @widebleek8138 · 9 months ago

  I’m not an Economist but when I was 8 years old I read the book:1929 The Wall Street Crash. <br>Every 10 years there is a boom and a bust. <br>46 years ago the British people voted against their best interests. They didn’t think about the children’s future. <br>And here we are!<br>The more things change, the more things stay the same!<br>When the economy crashes, western people blame foreigners!<br>Shame!

  27

• HR

  @hrabesancho1892 · 9 months ago

  in the future, this will be retrospectively considered as a crime against humanity

  396